The all-milk price increased in December, according to USDA’s latest Ag Prices report. The December all-milk price of USUS$0.50/l was highest since the same month in 2014 and 19.1% higher in YOY terms.

Average MPP farmgate margins also rose by 4.6% between November and December, reflecting higher MOM Class III and particularly Class IV prices – up 1.8% and 5.8% respectively. December margins improved despite higher input costs in MOM terms – with alfalfa hay up 1.4%, corn 3.8% higher and soybean meal jumping 11.4%.